Datek Brokerage $9.95 a trade Message Board

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Non-Tech : Datek Brokerage $9.95 a trade

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To: RealMuLan who wrote (7605)	3/27/1998 3:32:00 PM
From: Ira Player	Read Replies (1) of 16892

Datek's handling of short sales is wrong and doesn't appear in any documentation I have seen. They are charging interest in a loan that they do not provide. They are taking cash from your accounts and charging you interest on phantom loans. I have never been bitten by the problem myself, so cannot get directly involved. But, quite frankly, the policy should be changed and, for any of you that have paid for loans not really received or have been deprived of interest on cash that is "collateralized", do you know the term "CLASS ACTION". Enjoy the ride, Ira

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